Retirement Systems of Alabama Buys 354,789 Shares of Antero Resources Corporation $AR

Retirement Systems of Alabama increased its stake in shares of Antero Resources Corporation (NYSE:AR) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,630 shares of the oil and natural gas company’s stock after purchasing an additional 354,789 shares during the quarter. Retirement Systems of Alabama’s holdings in Antero Resources were worth $24,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AR. NewEdge Advisors LLC grew its stake in shares of Antero Resources by 16,498.3% during the first quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after buying an additional 9,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Antero Resources by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock valued at $23,882,000 after acquiring an additional 43,312 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Antero Resources by 18.9% during the 1st quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock valued at $806,000 after acquiring an additional 3,169 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Antero Resources during the 2nd quarter valued at $208,000. Finally, Steward Partners Investment Advisory LLC grew its position in Antero Resources by 13.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 13,879 shares of the oil and natural gas company’s stock worth $559,000 after acquiring an additional 1,664 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin A. Hardesty sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $44.00, for a total value of $528,000.00. Following the sale, the director directly owned 150,242 shares in the company, valued at $6,610,648. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Yvette K. Schultz sold 15,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $39.33, for a total transaction of $589,950.00. Following the sale, the insider directly owned 319,122 shares of the company’s stock, valued at $12,551,068.26. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by insiders.

Antero Resources Stock Down 4.5%

Shares of NYSE:AR opened at $42.25 on Wednesday. The firm has a market cap of $13.04 billion, a P/E ratio of 20.92 and a beta of 0.52. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75. The business has a fifty day simple moving average of $37.42 and a 200 day simple moving average of $34.93.

Antero Resources (NYSE:AR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.33 billion. Antero Resources had a return on equity of 6.71% and a net margin of 12.02%.The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. Analysts predict that Antero Resources Corporation will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AR shares. Truist Financial initiated coverage on Antero Resources in a report on Tuesday, March 24th. They issued a “buy” rating and a $56.00 target price for the company. Mizuho set a $47.00 price target on Antero Resources in a report on Friday, December 12th. Barclays upped their price objective on Antero Resources from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Morgan Stanley dropped their price objective on shares of Antero Resources from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Finally, Roth Mkm reiterated a “neutral” rating and set a $36.00 target price on shares of Antero Resources in a research report on Monday, December 8th. Five equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Antero Resources Profile

Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.

Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.